BHEL Shares Rally 6.01% Today Despite Reporting Net Loss Of Rs 238.12 Crore

Shares of state-owned engineering company Bharat Heavy Electricals Ltd witnessed a rally of 6.01% today to 136.70 per share on Monday. BHEL shares also saw a spurt in volume by more than 3.12 times today. The rally in BHEL stock took place despite the firm reporting a consolidated net loss of Rs 238.12 crore for the quarter ended September 2023-24. BHEL reported a net profit of Rs 12.10 crore in the corresponding quarter of year ago period, as per the BSE filing.

The company also declared a decline in its total income to Rs 5305.38 crore for the quarter under consideration from Rs 5418.74 crore in the same period a year ago. It declared a consolidated net loss of 343.89 crore in April- June period of this fiscal year.

Bharat Heavy Electricals Ltd stock's 52-week high price is Rs 148.95 per share and 52-week low price is Rs 66.30 per share, respectively. The company has a market capitalisation of Rs 47,599.81 crore. Bharat Heavy Electricals shares gained 69% in last 6-months, soared 84% in last 1-year, jumped 109% in last 2-year, and rose 389% in last 3-years.

Bharat Heavy Electricals Ltd has a market capitalisation of Rs 47,599. 81 crore.

PL Recommends Reduce Call: According to the brokerage firm Prabhudas Lilladher's latest report, "At the CMP, the stock is currently trading at 49.4x/28.1x FY24/25E. We have a 'Reduce' rating."

BHEL About: BHEL is India's largest engineering and manufacturing enterprise in the energy and infrastructure sectors. Established in 1964, it is a leading power equipment manufacturer globally and one of the earliest and leading contributors towards building an Aatmanirbhar Bharat, according to its official website.

Disclaimer:

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